Detroit moves toward opposing prediction markets in Coinbase federal lawsuit

A federal judge has approved a procedural agreement in the ongoing dispute between Coinbase and Michigan regulators. This clears the way for Detroit to become the first U.S. city to formally challenge sports-related prediction markets in court.

In a March 26 order, Shalina D. Kumar of the United States District Court for the Eastern District of Michigan signed off on a stipulation jointly submitted by Coinbase Financial Markets Inc. and state officials. The agreement resolves a dispute...